Best of 2023 – Market Signals
Why is it important to be up to date with the supply of and demand for candidates in the job market? We can draw insightful conclusions about trends that are ruling the job market by looking at how the number of job ads on LinkedIn, the number of candidates per job ad or unemployment levels change. Being able to interpret them is crucial when it comes to effective job search, employer branding or recruitment.
Useful data from the Job Market
- From the HR / employer perspective: more demand for candidates means that salaries and/or benefit packages have to go up if you want to attract the best talent. The “post and pray (that someone will read your ad)” approach might not work. On the other hand, more candidates (higher supply) means more choice and more negotiation flexibility.
- From the candidate perspective: more demand for candidates means “less effort” put into the job search (less time, more space to negotiate salary). More competitive market (less demand) on the other hand means that job seekers need to make sure they use all available job search channels.
Summary of 2023
In 2023 we have:
- gathered 4,974 data points
- published 241 daily updates
- tracked 80 countries around the world for 52 weeks!
How it started in March 2020
With the beginning of the COVID-19 pandemic, at Career Angels we wanted to understand how it actually affected the job market. We started to record the number of job ads published on LinkedIn. What started as a modest table of data from 18 European countries is now an expansive database containing important market information from 80 countries globally. With time, we also started to track other KPIs such as unemployment levels in Europe, the number of candidates per job ad in Europe (in English for executives & experienced managers) and the most popular ATS. This allows us to have a deeper, more tangible understanding of the job market. The KPIs show the supply/demand dynamics and interpreting them is key in advising our clients correctly in HR, career management & job search.
Do you have your own observations about the job market? Would you like to contribute to our project?
- Share your market signals with us via e-mail (everything will be kept confidential) at Contact@CareerAngels.eu | Subject: Market Signals
